Pulse Biosciences (NASDAQ:PLSE) Trading 13.6% Higher – Here’s What Happened

Pulse Biosciences, Inc (NASDAQ:PLSE)’s share price was up 13.6% on Thursday . The company traded as high as $27.58 and last traded at $28.39. Approximately 82,893 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 324,168 shares. The stock had previously closed at $24.99.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PLSE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pulse Biosciences in a research report on Tuesday, April 21st. Mizuho set a $30.00 target price on shares of Pulse Biosciences in a research report on Friday, February 6th. Canaccord Genuity Group started coverage on shares of Pulse Biosciences in a research report on Thursday. They issued a “buy” rating and a $32.00 target price for the company. Oppenheimer restated an “outperform” rating and set a $30.00 target price on shares of Pulse Biosciences in a report on Friday, February 20th. Finally, Wall Street Zen upgraded shares of Pulse Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

Pulse Biosciences Trading Up 10.7%

The firm’s 50-day moving average price is $22.53 and its 200 day moving average price is $18.65. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -25.17 and a beta of 1.65.

Pulse Biosciences (NASDAQ:PLSE) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.05. The business had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.25 million. As a group, equities research analysts anticipate that Pulse Biosciences, Inc will post -1.29 earnings per share for the current fiscal year.

Insider Activity at Pulse Biosciences

In related news, CEO Paul A. Laviolette acquired 15,000 shares of Pulse Biosciences stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $19.69 per share, with a total value of $295,350.00. Following the transaction, the chief executive officer directly owned 15,000 shares in the company, valued at $295,350. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert W. Duggan bought 660,233 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $19.69 per share, for a total transaction of $12,999,987.77. Following the transaction, the director directly owned 48,211,433 shares in the company, valued at $949,283,115.77. This trade represents a 1.39% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 74.00% of the stock is currently owned by company insiders.

Institutional Trading of Pulse Biosciences

Several hedge funds have recently bought and sold shares of PLSE. BNP Paribas Financial Markets grew its stake in shares of Pulse Biosciences by 63.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,749 shares of the company’s stock worth $26,000 after acquiring an additional 680 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Pulse Biosciences by 275.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company’s stock worth $44,000 after acquiring an additional 2,156 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Pulse Biosciences by 13.8% in the 4th quarter. Russell Investments Group Ltd. now owns 5,106 shares of the company’s stock worth $70,000 after acquiring an additional 619 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Pulse Biosciences during the second quarter worth about $158,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Pulse Biosciences in the second quarter worth about $215,000. Institutional investors and hedge funds own 76.95% of the company’s stock.

Pulse Biosciences Company Profile

Pulse Biosciences, Inc is a clinical-stage bioelectric medicine company that develops and commercializes medical devices based on its proprietary Tissue NanoPoration (TNP) platform. The company’s core technology, NanoPulse Stimulation (NPS), delivers ultrashort, high-voltage electric pulses to targeted tissue, triggering cellular responses without the thermal damage associated with traditional energy-based devices. Pulse Biosciences focuses on applications in dermatology and aesthetic medicine, where controlled ablation of unwanted lesions is critical.

The company’s flagship product, the CellFX® System, is designed to treat a range of benign and malignant skin lesions, including seborrheic keratosis, non-melanoma skin cancers, and various epidermal and dermal lesions.